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www.rockproducts.com ROCK products • July 2018 • 1
FIRST LOOK
Midwest Materials Purchased
Pioneer Landscape Centers acquired Midwest Materials in the
company's second transaction of the year. The acquisition of Midwest
Materials gives Pioneer a greater presence in the Colorado territory.
TOP NEWS
New TRIP Report Targets Georgia
New TRIP report, "Modernizing Georgia's
Transportation System: Progress &
Challenges in Providing Safe, Efficient
and Well-Maintained Roads, Highways &
Bridges," lists needed projects throughout
the state that still lack sufficient funding to
proceed prior to 2022.
Granite Construction Reports Increases
Granite Construction reported that revenue increased to
$563.4 million, up 20.3 percent year-over-year for the quarter
ended March 31, 2018. Construction Materials revenue
increased 32.5 percent to $45.7 million, compared with $34.5
million last year.
MSHA WATCH
The U.S. Department of Labor's Mine Safety and Health Administration announced
the availability of $10,537,000 in state grant funding to provide federally mandated
training and retraining of miners and mine operators working at surface and
underground coal and metal/nonmetal mines. Under Section 503 of the Federal
Mine Safety and Health Act of 1977, any state in which mining takes place may apply for the grant.
MSHA may fund 80 percent of the activities under a state grant program, and the state must provide
matching funds of no less than 20 percent of the total program costs. For funding consideration,
applications must be submitted electronically through www.grants.gov by July 16, 2018.
The estimated U.S. output of construction aggregates produced and shipped for consumption
in the first quarter of 2018 was 422 million metric tons (Mt), a slight increase compared with
that of the same period of 2017, according to Jason Willett, crushed stone commodity specialist for the U.S. Geological
Survey (USGS). The estimated annual output produced for consumption in 2017 was 2.26 billion metric tons (Gt), a slight
increase compared with the annual output for 2016.
USGS STATS
The value of new construction starts in April fell 13 percent
from the previous month to a seasonally adjusted annual rate
of $674.3 billion, according to Dodge Data & Analytics. The
decline follows the 11 percent gain reported for March, which
was the highest level of construction starts over the preceding
six months.
The U.S. Census Bureau announced that construction spend-
ing during April 2018 was estimated at a seasonally adjust-
ed annual rate of $1,310.4 billion, 1.8 percent (±1.0 percent)
above the revised March estimate of $1,286.8 billion. The
April figure is 7.6 percent (±1.5 percent) above the April 2017
estimate of $1,217.7 billion.
The Dodge Momentum Index achieved a small gain in May,
moving 1.8 percent higher to 167.8 (2000=100) from the
revised April reading of 164.9. The Momentum Index is a
monthly measure of the first (or initial) report for nonresiden-
tial building projects in planning, which have been shown to
lead construction spending for nonresidential buildings by a
full year.
ECONOMIC
INDICATORS
ENERGY PRICES
WTI CRUDE OIL FUTURES
6/19/2018: $65.07/barrel, down $1.29 from
week earlier up $20.87 from year earlier.
DIESEL FUEL
6/18/2018: $3.244/gal., down $0.022 from
week earlier; up $0.755 from year earlier.
ELECTRICITY
3/26/2018: Average price to industrial
customers 6.64 cents/kilowatt hour; down from
6.73 cents/kilowatt hour a year earlier.
NATURAL GAS FUTURES
6/19/2018: $2.900/MMBtu, down $0.039 from
week earlier; up $0.006 from year earlier.
PROPANE
3/26/2018: $2.480/gal., up from $2.390/gal. a
year earlier.
Source: U.S. Energy Information Administration